In our last review of AT&T (T) back on October 19 we were too bearish as we wrote, "Investors may be attracted to the yield on T now (7.72%) but prices remain weak and likely to head lower. Avoid the long side for now."
Prices briefly made a lower low in late October but that was the end of the selloff. T has rallied into early December and corrected to make a higher low. Is this part of the basing process or a pullback to do some buying? Let's check out the charts again.